The International Swaps and Derivatives Association, Inc. (ISDA) today announced the ISDA 2015 Multilateral Non-Dealer Canadian Reporting Party Agreement is open for adherence.
The agreement has been published by ISDA to facilitate single-sided reporting for non-dealer trades that involve a local Canadian counterparty. Under rules in place in Ontario, Manitoba and Québec, transactions between non-dealers are required to be reported from June 30, 2015. The ISDA 2015 Multilateral Non-Dealer Canadian Reporting Party Agreement meets the relevant conditions under section 25 of the 91-507 derivatives trade reporting rules in these three provinces.
Parties must adhere to the agreement by June 16, 2015 in order to meet the June 30 start date.
A corresponding agreement for transactions between dealers, the ISDA 2014 Multilateral Canadian Reporting Party Agreement (Dealer Version), was published on September 22, 2014. Both documents are designed to be extended to incorporate derivatives transaction reporting requirements that may be issued by other Canadian regulators.
Adherents to these agreements can leverage the reporting party hierarchy and tie-breaker logic available in ISDA’s Canadian Transaction Reporting Party Requirements, originally published on April 4, 2014 and amended on March 20, 2015, to determine a single reporting party.
All documents are available on the ‘Canada’ section of ISDA’s website and on the ‘Reporting’ section of ISDA’s website.
To adhere to either agreement, please contact Karen Cadigan (kcadigan@isda.org) or Tara Kruse (tkruse@isda.org).